Bondora saw a 107.9 per cent month-on-month growth in secondary market transactions in August following a dip the previous month.
€338,235 (£288,088) was transacted over the European peer-to-peer lending platform’s secondary market last month, a huge rise from July’s €162,695, which was a 12.9 per cent drop from June.
The most significant growth factor was a 1,139.3 per cent increase in portfolio manager transactions, which totalled €51,978 in August, Bondora said.
This was followed by growth in API transactions, which rose by 169.4 per cent month-on-month to reach €148,949.
Because of this, API transactions overtook manual transactions as the most-used investment product on the secondary market. Manual transactions also saw monthly increases, up 33 per cent.
Investors opted to pay a premium for Bondora current loans on the secondary market, with a 35.5 per cent rise in premium current loan transactions and a 546.6 per cent increase in transactions at par value.
In August, Bondora’s secondary market hosted €24,007 in transactions of overdue loans, up 23.9 per cent from July and €17,124 in transactions of defaulted loans, up by 22.6 per cent from the previous month.
Lenders transacted €2,414 for defaulted loans at a premium, a 1,311.7 per cent rise from that in July.
Read more: Bondora boosts loan recoveries
“The Bondora secondary market had experienced a steady decline in transactions for several months as investors gravitated toward the steady and hands-off investing of go and grow,” Bondora said in a blog on its website.
“However, August saw a complete trend reversal, with a 107.9 per cent increase in total secondary market transactions. At €148,949, API transactions were the most popular. Meanwhile, portfolio manager transactions increased by 1,139.3 per cent, leading to the revival of the secondary market.”